Raymond James Financial Inc. Takes $622,000 Position in Permian Basin Royalty Trust (NYSE:PBT)

Raymond James Financial Inc. acquired a new position in Permian Basin Royalty Trust (NYSE:PBT - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 56,180 shares of the oil and gas producer's stock, valued at approximately $622,000. Raymond James Financial Inc. owned 0.12% of Permian Basin Royalty Trust as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Golden State Wealth Management LLC bought a new position in Permian Basin Royalty Trust in the 4th quarter worth approximately $27,000. Stratos Wealth Partners LTD. acquired a new position in Permian Basin Royalty Trust during the 4th quarter valued at $121,000. Atria Wealth Solutions Inc. bought a new stake in Permian Basin Royalty Trust in the 4th quarter valued at $127,000. Avondale Wealth Management grew its position in Permian Basin Royalty Trust by 100.0% in the 4th quarter. Avondale Wealth Management now owns 19,000 shares of the oil and gas producer's stock worth $211,000 after purchasing an additional 9,500 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Permian Basin Royalty Trust by 45.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 29,467 shares of the oil and gas producer's stock worth $326,000 after purchasing an additional 9,179 shares during the period. Institutional investors and hedge funds own 28.86% of the company's stock.

Permian Basin Royalty Trust Price Performance

Shares of PBT traded up $0.29 on Friday, reaching $9.61. 81,888 shares of the stock traded hands, compared to its average volume of 130,352. The stock's 50-day moving average price is $10.24 and its 200-day moving average price is $11.30. The firm has a market cap of $447.68 million, a price-to-earnings ratio of 12.31 and a beta of 0.58. Permian Basin Royalty Trust has a 12 month low of $8.01 and a 12 month high of $14.26.

Permian Basin Royalty Trust (NYSE:PBT - Get Free Report) last announced its quarterly earnings results on Friday, March 14th. The oil and gas producer reported $0.08 earnings per share (EPS) for the quarter. The firm had revenue of $3.79 million for the quarter. Permian Basin Royalty Trust had a net margin of 96.32% and a return on equity of 17,811.24%.

Permian Basin Royalty Trust Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, April 14th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.018 per share. This represents a $0.22 dividend on an annualized basis and a yield of 2.25%. This is an increase from Permian Basin Royalty Trust's previous monthly dividend of $0.02. The ex-dividend date is Monday, March 31st. Permian Basin Royalty Trust's payout ratio is presently 38.18%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Permian Basin Royalty Trust from a "buy" rating to a "hold" rating in a research note on Thursday, February 20th.

Permian Basin Royalty Trust Company Profile

Permian Basin Royalty Trust, an express trust, holds royalty interests in various oil and gas properties in the United States. The company holds a 75% net overriding royalty interest in the Waddell Ranch properties, including Dune, Sand Hills (Judkins), Sand Hills (McKnight), Sand Hills (Tubb), University-Waddell (Devonian) and Waddell fields in Crane County, Texas.